The FTSE 100 followed global stocks higher as investors shrugged off the fall-out from the weekend’s G7 meeting in Canada.

London’s blue chip index ended the day up 0.7% or 56.36 points at 7,737.43, while European peers including the French Cac 40 and German Dax rose 0.4% and 0.6% respectively.

It comes after a tumultuous G7 meeting in Quebec, which saw US President Donald Trump retract support for the summit’s final statement after trading barbs with fellow members including Canada over tariffs.

David Madden, a market analyst at CMC Markets UK, said: “Stock markets are broadly positive, despite the turbulence at the G7 meeting at the weekend.

“Traders seem unfazed by the tough talk from President Trump. The markets are likely to stand their ground until there is a formal reaction from other members of the G7.

US President Donald Trump (PA)

“Donald Trump is playing hardball, but he would probably settle for a compromise, and some dealers suspect it is all a ploy to get a better deal for the US in terms of trade.”

Disappointing data in the UK, meanwhile, weighed on the pound.

Sterling was down 0.15% against the US dollar at 1.337 and fell 0.13% versus the euro to 1.134.

Figures from the Office for National Statistics (ONS) showed output in Britain’s manufacturing sector suffered its sharpest decline since 2012 in April, dropping 1.4% month on month.

It dragged on overall industrial output, which fell 0.8% in April.

In oil markets, Brent crude rose 0.3% to 76.63 US dollars per barrel, reversing earlier losses that had been sparked by concerns about rising Russian production and drilling in the US.

Worries over future supplies from Iran and Venezuela helped support oil price gains.

In UK stocks, Rolls-Royce fell 2.6p to 832.8p on warnings it would be hit by costs linked to the discovery of technical issues found in another set of engines.

The company said it will carry out an inspection of the Package B engines, which are used by Boeing, but assured the problems will not prevent the company from hitting full-year financial targets.

HSBC’s UK headquarters in Canary Wharf, London (PA)

HSBC shares were nearly flat, up just 0.1p at 730p, having recovered some losses felt in the wake of a strategy update released on Monday.

The bank said it will “simplify” the business, invest billions of pounds in tech and turn around its US division as part of new chief executive John Flint’s growth plans.

Away from the top tier, Inmarsat was the best performing stock on the FTSE 250, rising 60.1p to 534p.

The satellite telecoms company rejected a bid from US firm Echostar last week, prompting speculation that it could start a bidding war for the British business.

IG Design rose 9p to 445p after the gift maker reported a 51% rise in full-year profit to £19.7 million and a 5% rise in sales to £327.5 million, following an increased focus on Easter and Valentine’s Day.

The biggest risers on the FTSE 100 were Evraz up 37.6p at 537p, NMC Health up 132p at 3,566p, Marks and Spencer Group up 7.7p at 297.7p, and Standard Chartered up 19.1p at 745.7p.

The biggest fallers on the FTSE 100 were Old Mutual down 4.2p at 218.2p, Mediclinic International down 7.2p at 543.6p, Barratt Developments down 7p at 579p, and Severn Trent down 21.5p at 1,915.5p.